Latin America Green News is a selection of weekly news highlights about environmental and energy issues in Latin America.

August 19-23, 2013

Chile

BCI Asset Management has joined renewable energy company Antuko Energy to launch a new fund that will help make dozens of renewable energy projects financially viable. The fund will be used to stabilize energy prices by buying energy blocks at a fixed price that will then be sold under contracts or in the spot market. The fund will begin with $15 million and will acquire a maximum of 750 GWh. (Pulso)

The National Geology and Mining Service approved the volcanological studies presented by Energía Austral for its Cuervo dam, part of the second largest hydroelectric project proposed in Patagonia. The approval of the new studies eliminates one of the major remaining barriers to the project. The dam was approved last year, but the Supreme Court declared the approval illegal because soil and volcanoglocial studies had not been conducted, and ordered the company to present a new study. (La Segunda 8/23/2013)

In September, Costa Rica will host the Forum on Climate Vulnerability which will gather government representatives from twenty countries considered highly vulnerable to climate change. During the forum, leader will discuss climate change risks and benefits of collective action. (El País 8/22/2013)

Mexico

The energy reform initiative proposed by President Peña Nieto fails to lay out how Mexico will boost renewable energy production, according two local civil society groups. Although the National Energy Strategy aims to increase renewable generation 35% by 2024, the president’s new proposal continues to focus on fossil fuels, particularly exploiting shale gas and deepwater oil reserves. (Animal Politico8/19/2013)

Environmental degradation including forest loss, water contamination and air pollution cost Mexico the equivalent of 7 percent of its GDP. Noting that over the past ten years Mexico has lost 6 million hectares of forestland, Senator Benjamín Roble Montoya has asked the Ministry of the Environment to account for actions taken to halt this accelerated degradation of the nation’s forests. (Uniradio Informa 8/17/2013)

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